(The Hill) — Cracker Barrel’s stock plummeted $94 million on Thursday after the country staple restaurant pushed out an unexpected rebrand of its logo.
The 55-year-old company shed its share value by 7.2 percent following the decision to remove the old man and carefully sketched barrel on its logo, as well as the whipping “K” flourish over the restaurant’s name.
Cracker Barrel Chief Marketing Officer Sarah Moore said she was excited about the “refresh” in March, while noting the goal was to revitalize a brand that “resonates with loyal guests while welcoming new ones to our table.”
California bill would require restaurants to disclose food allergens on menus
The PR firms Prophet, Viral Nation and Blue Engine each played a role in the logo relaunch to provide new messaging on social platforms, renew menus and restructure 20 restaurants.
However, the pushback from lawmakers, other restaurants and patrons has been monumental.
“WHAT IS WRONG WITH CRACKER BARREL?? KEEP YOUR BEAUTIFUL LOGO!!! THE NEW ONE LOOKS LIKE CHEAP VELVEETA ‘CHEESE’ FROM WALMART, THE PLACE FOR ‘GROCERIES’ (AN OLD FASHIONED TERM)!!! ‘FIX IT’ ASAP! WOKE IS DEAD!! THANK YOU FOR YOUR ATTENTION TO THIS MATTER,” the office of California Gov. Gavin Newsom, who has taken to writing in the style of President Trump, wrote on X.
Others, including President Donald Trump’s son, have chimed in accordingly.
“WTF is wrong with @CrackerBarrel??!” Donald Trump Jr. wrote in a Wednesday post on X.
Steak n’ Shake also chimed in, alleging executives were stripping the brand of its heritage.
“Their goal is to just delete the personality altogether. Hence, the elimination of the ‘old-timer’ from the signage,” the burger chain wrote on the social platform X.
DoorDash customer allegedly causes $10K in damage to driver’s car
Despite widespread criticism and market share downfall, the company has not signaled that it will shift course.
Cracker Barrel’s stock was regaining some of its losses on Friday amid a broader jump in stock prices. At 10:40 a.m., its stock was up $1.40 or 2.55 percent.
